MANILA, Philippines -- (UPDATE) Electricity users with consumption not exceeding 100 kilowatt hours can start queuing at selected Land Bank of the Philippines (LBP) branches to claim their P500 one-time subsidy from the government, Malacañang announced on Friday.

Press Secretary Ignacio Bunye said the government has initially released P500 million for the program meant to help cushion the impact of spiraling food and fuel prices.

This after Social Welfare Secretary Esperanza Cabral informed President Gloria Macapagal-Arroyo of the release of the power subsidy guidelines, Bunye said.

The state-owned bank has initially identified five branches where beneficiaries can present their power billing statement and identification card to get their P500 subsidy -- in Buendia, Intramuros near Manila Cathedral, Banawe and Batasan branches in Quezon City, and Kapitolyo in Pasig City.

Payment for the rest of Metro Manila will be done in three weekends: June 14-15, June 21-22, and June 28-29.

Bunye said more branches would be announced in the next few days.

The P2 billion power subsidy was part of the P4 billion windfall collection from the value added tax on oil from January to April.

Arroyo has called it the "fruit of the VAT" to be given to the poor in the face of spiraling fuel, power, and food prices.

Bunye stressed that the P500 would be a one-time assistance.